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eBay Shares up Shows Impressive 4th Quarter

eBay Shares up Shows Impressive 4th Quarter

Shares in online auction retailer eBay leaped by 5 per cent in after hours trading following impressive fourth quarter financial results.

The company reported a rise of 5 per cent in its fourth quarter revenue, beating Wall Street estimates to finish up at $2.5 billion. eBay recorded a net income of $559.2 million or 42 cents a share.

eBay's impressive fourth quarter results were attributed to the growth of its PayPal online payments system and mobile e-commerce.

PayPal ended the fourth quarter with 94.4 million active users, adding a million new users every month. The company also reported a rise in its mobile services usage, with mobile shoppers purchasing goods worth $2 billion for the entire year.

Chief Executive Officer John Donahoe said in a statement to analysts: "Customers shopped a dramatically different eBay in the fourth quarter of this year than a year ago. The shopping experience is now cleaner, faster and easier to navigate."

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